Bitcoin has fallen to $71.68K, and this is clearly no coincidence. Tomorrow, the US employment data will be released — that’s when things will get interesting. The market is currently in a wait-and-see mode, with investors hedging their bets ahead of macroeconomic news. The expected unemployment rate is 4.3%, with non-farm payrolls increasing by about 59,000 — figures that could influence the Fed’s policy and, consequently, risk appetite.

While Bitcoin is pushing downward, other assets are also not shining. The dollar index has strengthened above 99, and the yield on 10-year Treasury bonds has risen to 4.16%. The Nasdaq-100 ETF has fallen approximately 0.5% in pre-market trading. Shares of crypto projects like MicroStrategy and Marathon Digital are also trading in the red.

Meanwhile, oil has surged above $83 per barrel — gaining more than 5% in a day. The conflict in Iran is putting pressure on the oil sector, and this is reflected in the prices. It seems that oil rig operators and energy companies are now in focus for investors seeking safe assets. In short, a classic flight to safety — the market is rebalancing ahead of key data.